BMO Capital Markets Cuts Cargojet (TSE:CJT) Price Target to C$85.00

Cargojet (TSE:CJT) had its price target decreased by BMO Capital Markets from C$94.00 to C$85.00 in a report released on Wednesday morning,BayStreet.CA reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other analysts have also weighed in on CJT. Royal Bank Of Canada dropped their price objective on shares of Cargojet from C$143.00 to C$140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Canadian Imperial Bank of Commerce raised their price objective on shares of Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd. Stifel Nicolaus raised their price objective on shares of Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Desjardins raised their price objective on shares of Cargojet from C$117.00 to C$126.00 in a report on Thursday, February 26th. Finally, Scotiabank lowered their price target on shares of Cargojet from C$118.00 to C$115.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cargojet currently has an average rating of “Moderate Buy” and a consensus price target of C$124.58.

Cargojet Stock Performance

TSE CJT opened at C$81.30 on Wednesday. The firm has a market cap of C$1.21 billion, a price-to-earnings ratio of 33.18 and a beta of 0.87. The company has a 50 day moving average of C$84.16 and a 200-day moving average of C$84.46. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 123.57. Cargojet has a 1-year low of C$65.60 and a 1-year high of C$113.89.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Monday, May 4th. The company reported C$0.60 earnings per share for the quarter. The company had revenue of C$254.70 million during the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. On average, equities analysts forecast that Cargojet will post 5.890933 earnings per share for the current fiscal year.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were issued a $0.385 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.35. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, March 20th. Cargojet’s dividend payout ratio (DPR) is 58.57%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.